Fitch upgrades Mizuho

Fitch Ratings said it upgraded to a- from bbb+ the viability ratings of Mizuho Financial Group, Inc. and its subsidiaries.

At the same time, Fitch affirmed Mizuho's long-term issuer default ratings at A- with a stable outlook.

The agency affirmed the group’s senior notes issued under its program at A-.

The subordinated debt issued by Mizuho Financial and its subsidiary, Mizuho Financial Group (Cayman) 3 Ltd., was affirmed at BBB.

Fitch said Mizuho's ratings reflect the agency’s assessment that, as a systemically important bank in Japan, there is an extremely high probability of Mizuho receiving government support in case of need.

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